“What I could guarantee is we would have had a financial crisis. I’ve studied it, I’ve taught it, and if we had kept up at these spending levels that -- everything was unsustainable,” Bessent said on NBC’s “Meet the Press.” “We are resetting, and we are putting things on a sustainable path.”
President Donald Trump has made getting the government’s fiscal house in order a priority since taking office. He created the so-called Department of Government Efficiency, led by Elon Musk, to spearhead job cuts and early retirement incentives across multiple federal agencies. Still, the U.S. debt and deficit problem worsened during Trump’s first month in office, as the budget shortfall for February passed the $1 trillion mark. (Read More)
